Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives Average Rating of “Reduce” from Brokerages

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has received a consensus rating of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1.53.

Several research firms have recently weighed in on PSNY. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Friday, January 17th. Bank of America initiated coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PSNY. Advisors Asset Management Inc. grew its stake in Polestar Automotive Holding UK by 953.5% in the third quarter. Advisors Asset Management Inc. now owns 246,553 shares of the company’s stock valued at $424,000 after acquiring an additional 223,150 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Polestar Automotive Holding UK by 31.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 319,508 shares of the company’s stock worth $550,000 after purchasing an additional 77,106 shares in the last quarter. MetLife Investment Management LLC increased its stake in Polestar Automotive Holding UK by 134.4% during the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after purchasing an additional 8,823 shares in the last quarter. Captrust Financial Advisors increased its stake in Polestar Automotive Holding UK by 125.4% during the 3rd quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after purchasing an additional 25,930 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Polestar Automotive Holding UK by 91.5% during the third quarter. XTX Topco Ltd now owns 288,564 shares of the company’s stock worth $496,000 after buying an additional 137,907 shares during the last quarter. 1.02% of the stock is owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Stock Down 3.6 %

PSNY opened at $1.08 on Friday. The stock has a market cap of $2.31 billion, a PE ratio of -1.89 and a beta of 1.49. Polestar Automotive Holding UK has a twelve month low of $0.61 and a twelve month high of $1.94. The company has a fifty day moving average of $1.09 and a 200-day moving average of $1.21.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.